Matt Fischer, the president and CTO of Bullhorn says that a popular image of artificial intelligence is that of robots taking over the world. AI is designed to play a great role in transforming staffing and recruiting. According to the research at Bullhorn, more than half of recruiting industry professionals and executives professed at least some knowledge of AI technology.
For the recruiting industry, AI is already in the earliest stages of usage for finding and hiring the best talent. Between the ongoing development of AI for recruiting platforms and the understandable lag in adoption at the initial phase, many of the capabilities AI can bring to the recruiting process are yet to be fully implemented.
AI can help in finding better-qualified candidates at the desired time and AI-enabled tools can continuously monitor huge databases of passive candidates and identify signals that predict a candidate’s suitability for the opportunity. This leads to an increase in both the available pool for a given position and the engagement rates with the potential candidates.
AI also helps to increase the recruiters’ response time and communications such as interview confirmation emails and texts can be automated thus leaving recruiters more time to focus on the more customized interactions needed to cultivate relationships with candidates. AI can sense the market shifts and help recruiters anticipate skills gaps and talent shortages ahead of the competition. Besides, AI improves diversity by reducing human bias and this covers anything from racial and gender diversity to age and even geographical location.
However, AI has its limits and recruiters should recognize them. AI can analyze data and replicate repetitive tasks to help recruiters but it cannot replace them. In fact, rather than replacing jobs in recruiting, AI is designed to give staffing and recruiting professionals more time to do the parts of their jobs that require human decision-making.
As per the report published by Value Market Research, the rise in the youth population along with the high demand for cost-effective candidate hiring is driving the market growth. The increase in the adoption of advanced recruitment and staffing solutions such as applicant tracking system for cost-effective and better hiring is further boosting the market growth. The rise in the competitive atmosphere across all industries has also lead to better candidate hiring thus further fueling the recruitment and staffing market growth.
As the understanding of AI in the recruiting industry increases, so will the development and adoption of AI tools to support the hiring process, from candidate engagement to communications workflows and much more. Staffing and recruiting professionals need to be aware of how AI tools lead to savings and better candidate experience as well as how their limitations allow them to focus more on work that would improve the candidate experience.
Naira Shekhawat has been into Content Writing just after completing her Graduation in English Literature. Her love for words has won her many accolades in her respective jobs ever since. Naira covers business sections for VMR News. She is a traveller by heart and loves writing on food blogs as a freelancer.